Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on june 30, 2021, moran corporation issued $9.0 mi

On June 30, 2021, Moran Corporation issued $9.0 million of its 8% bonds for $8.1...

90.2K

Verified Solution

Question

Accounting

On June 30, 2021, Moran Corporation issued $9.0 million of its 8% bonds for $8.1 million. The bonds were priced to yield 10%. The bonds are dated June 30, 2021. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, by how much should the bond discount be reduced for the six months ended December 31, 2021?

a. $45,000

b. $62,000

c. $51,500

d. $43,500

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A normally distributed population has a mean of 65 and a standard deviation of 24. Sample...

Statistics
Q

I need to write a literature review on nano-additives for concrete, with aspects on structure, properties...

Civil Engineering
Q

Find the distance (exact value) between skew lines L?: = x-2/-6 = y+4/5 = z+7/-2...

Geometry
Q

During a 6-hour period, the air temperature at the zoo dropped by 48F. If the...

Basic Math
Q

c According to the Merck Veterinary Manual the average resting heart rate for a certain...

Statistics
Q

Part 5 of 5 x sin 4x2 cos 9x2 dx 20 Since cos 0 cos...

Calculus
Q

Find the domain of the given function Enter the solution using interval notation 5 25...

Algebra
Q

miliion Translation and Remeasurement Gains and Losses Amcrest France...

Accounting
Q

Astro Company manufactures custom engines for use in the lawn and garden equipment industry. The...

Accounting
Q

Which of the following statements correctly describes a disadvantage of using a flexible budgeting system?...

Accounting
Q

can you journalize it and export it to ledger account P2-1B Surepar...

Accounting
Q

For each of the following compute the present value (Do not round intermediate calculations and...

Finance